Government, in collusion with the banks are doing everything to keep main street real estate prices from going into free fall. With a stagnant economy, and slow or next to nothing job growth, what do you think is going to happen to real estate? 21% of home owners in FL, NV & MS live in their homes without paying rent. Can you imagine half of the country living rent free? Banks no longer can handle the tsunami of mortgage defaults so expect more banks to stop the foreclosure process. In the end, the the market will win. WE MUST see lower home prices and rental costs! The current stagnation is only hurting the responsible Americans that continue to pay their ULTRA HIGH mortgage payments and those like me, waiting on the sideline for an inexpensive place to lay my head.

The recession is clearly not over, at least when it comes to the United States' inability to protect its citizens homes. Americans continue to lose their homes and foreclosures continue to rise, who is to blame for this crisis? Many people have said that the banks are to blame for fraudulently processing financial documents. George Hemminger the founder of Survive and Thrive TV believes the US Federal Reserve is to blame for this "Wall Street engineered collapse" because it injected too much liquidity into the market.

http://surviveandthrivetv.com/the-for...
Well it looks like the massive fraud perpetrated by Wall Street and lenders who package, securitized and sold their loans is finally getting the attention of the main stream media. Only this time if they follow "the rule of law" they would bankrupt all the major money center banks on Wall Street. And of course "the rule of law" was the reason why the federal government refused to force lenders to write down loans to current market value if the homeowners promised to stay in their home and make payments for 3 or 5 years.

The states can and in some cases will remand plaintiffs to the state criminal courts for fraud and extortion if the federal government attempts intervention.

Voters are in a state of revolt over this mess and Republicans see this as a wedge issue that can be used to partially or totally destroy the appeal of Democrats to independents. Since the Democrats realize this federal intervention is unlikely in the extreme.

Most of the holders of bad paper are overseas or in Democratic strongholds so the GOP can and will blame Obama for any and all fallout from this mess.

I am not saying that the Dems in congress will not commit mass political suicide I am saying that it will be political suicide to touch this issue even with a ten foot pole. There will be a second meltdown and it will be bigger than the first one and it will happen prior to the first Tuesday 11/12.

Wall street, not individual homeowners created the housing crisis. Bank loans were sold and sold so that the bankers who made the original loan escaped with profits, and those at the end of the line suffered.
This is and continues to be a classic ponzi scheme.

There will be a second meltdown and it will be bigger than the first one and it will happen prior to the first Tuesday 11/12.

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I am very interested to know why you think this.

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Government leniency towards irregularities in titles ended when county clerk's offices throughout the nation found out that MERS-3 was bypassing their fee structures. While it depends a lot on locality the clerk of the court office is usually one of the three big cash cows of county government and most importantly the one least likely to cost votes if it raises fees. The gals who run the office are friends and relatives of the local police, judges, school board and property appraiser as well. Throw a book at the president and you won't get in as much trouble as pissing off your local clerk's office will get you in. Even moving may not help.

I have a cousin who committed what sounded like first degree murder to me who spent a year minus a day in county jail for the crime. His mom aunt Marie was number two in the clerk's office of Tallapoosa County AL at the time. Dadeville, the county seat is part of Boone valley, which if I am not mistaken was known as Death Valley for having at the time the highest death penalty conviction rate of anywhere in the country. The clerk's offices are very powerful nationwide and the mortgage industry decided to screw them out of their money, not smart. Wall St. or somebody is going to pay heavily for that error.

The states can and in some cases will remand plaintiffs to the state criminal courts for fraud and extortion if the federal government attempts intervention.

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Are you sure that is true?

I heard today that the Federal Government is busy foreclosing on more homes than any private bank or party. Beyond the alphabet soup agencies the Federal Reserve itself accepted gazzillions of mortgage backed securities from the banks as reserves and via the bailouts and now has to unwind many of them.

Which adds a completely different dimension to the problem. The sleaziest, dirtiest and most corrupted mortgages tranches are likely now owned by our own government.

There will be a second meltdown and it will be bigger than the first one and it will happen prior to the first Tuesday 11/12.

Click to expand...

I am very interested to know why you think this.

Click to expand...

If nothing else a moratorium on foreclosures and this kind of pressure on the mortgage securitization industry could rattle the developed world's economy to it's knees. Add to that the new complications to the existing foreclosure stream and you have a much bigger problem than the original housing collapse.

The risks of a domino effect are very high if this isn't managed top down, quickly and with a lot of savvy.

There will be a second meltdown and it will be bigger than the first one and it will happen prior to the first Tuesday 11/12.

Click to expand...

I am very interested to know why you think this.

Click to expand...

Government leniency towards irregularities in titles ended when county clerk's offices throughout the nation found out that MERS-3 was bypassing their fee structures. While it depends a lot on locality the clerk of the court office is usually one of the three big cash cows of county government and most importantly the one least likely to cost votes if it raises fees. The gals who run the office are friends and relatives of the local police, judges, school board and property appraiser as well. Throw a book at the president and you won't get in as much trouble as pissing off your local clerk's office will get you in. Even moving may not help.

I have a cousin who committed what sounded like first degree murder to me who spent a year minus a day in county jail for the crime. His mom aunt Marie was number two in the clerk's office of Tallapoosa County AL at the time. Dadeville, the county seat is part of Boone valley, which if I am not mistaken was known as Death Valley for having at the time the highest death penalty conviction rate of anywhere in the country. The clerk's offices are very powerful nationwide and the mortgage industry decided to screw them out of their money, not smart. Wall St. or somebody is going to pay heavily for that error.

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